All Forum Posts by: Paul Amegatcher

I've been working with the seller for a long time and she is now ready to sell. I had an O & E run and it shows a DOT and a mortgage of $56,000 borrowed 33 years ago. The owner received the property in a divorce ten years ago.

Her attorney says it cant be sold unless the mortgage company - a Richard Gill Mortgage Company located in Texas, releases the deed on this Colorado house. The only way is that if I take it subject to the potential debt and the title company cant issue title insurance with the note being released.  Seller assures me the 30 year mortgage was paid off 10 years early.

The Richard Gill Mortgage Company seems to have disappeared and there aren't any assignments of the note. Is this a dead deal now, or is there an alternative way around this? Thanks for any input - I seem to have hit the end of the road on a long deal.

Hello BP-ians,

I am about to start renovating a multi-unit apartment building in Dayton, Ohio. I am looking for contractors who can submit bids for this job. I would highly appreciate if you could recommend some names from that area.

Note: I WILL NOT BLAME YOU FOR THE BEHAVIOR OF THE CONTRACTOR YOU RECOMMENDED. I KNOW IT IS COMPLETELY MY RESPONSIBILITY TO VET THEM. 

Dhanush 

I guess this thread answers my question. I'm new to BP and made a similar thread yesterday. When I didn't get a response, I googled and guess where google brought me? LOL! So basically deals off the MLS for a wholesaler are difficult. I'm just trying to find a deal. I've combed neighborhoods driving for dollars to put together a mail campaign, I've searched craigslist and facebook, I've put up bandit signs, I've sent mailers to pre-foreclosures and the leads I genrated turned out to be dead ends. I'm currently exploring Tax Liens and Deeds. I need something positive to happen and soon.

Hi Paul,

Thank you for that feedback. I understand that to mean you want your cap rate to be 2%? I think I'm going to bow out of this one as it might be too much for me. The only thing I'll lose is the inspection fee that I paid. 

Hello Everyone,

My name is Olupero (I go by 'Olu') and I'm a newbie to this site and to real estate. I'm in the healthcare field as a profession. 

I'm from Cincinnati/Dayton and I'm currently in the process of closing on my first single-family home in Dayton, OH. 

I want to continue to acquiring single-family homes in the Dayton, OH area but I'm looking for meet-up groups in Chicago as that's where I'm based. 

I hope I did the intro correctly and I'm looking forward to meeting the rest of you and soaking up some knowledge. Thanks!